Apple has been knocked off its second most valuable company in the world perch by none other than the AI craze. The revenue boost that NVIDIA got from selling something that is still called GPU but is actually a chip tailored to make AI calculations, has been so significant, that its market capitalization has now
On May 22, NVIDIA reported a revenue of $26.0 billion, an 18% from Q4, and the whopping 262% boost year-on-year. The AI craze brought NVIDIA $60.92 billion in revenue for last year, a 125% increase, too. Revenue is one thing, but actual profit is an even rosier story, as NVIDIA logged a breathtaking 629% profit per share increase year-on-year. In short, everyone is buying AI chips, and NVIDIA is making out like a bandit, pushing its stock price to unforeseen heights.
Apple is a latecomer to the AI push sweeping the industry, and is only expected to unveil its take on the AI-powered iPhone with theseries, as all rumors point to a practical approach that will run AI calculations only where it makes sense from a user-centric point of view.
Daniel, a devoted tech writer at PhoneArena since 2010, has been engrossed in mobile technology since the Windows Mobile era. His expertise spans mobile hardware, software, and carrier networks, and he's keenly interested in the future of digital health, car connectivity, and 5G. Beyond his professional pursuits, Daniel finds balance in travel, reading, and exploring new tech innovations, while contemplating the ethical and privacy implications of our digital future.